The Fractal Keltner X5 Cloud indicator for Metatrader 5 is a powerful Forex tool composed of Fractals and the Keltner indicator.
It can be used as a buy-on-dips and sell-on rallies trading strategy in trending markets.
How to spot the overall market trend with the Fractal Keltner X5 Cloud indicator?
- An upward moving cloud is bullish.
- A downward moving cloud bearish.
The following indicator inputs and parameters can be modified: Keltner period, Fractal period, line color, and cloud color.
The indicator works for any trading instrument (Forex, Stocks, Indices, Metals, etc.) that can be loaded into the Metatrader 5 platform.
Please make yourself familiar with this technical indicator and test it first on a demo account before using it on a live trading account.
Some currency traders combine the Keltner Cloud indicator with other signals and trading tools.
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Fractal_Keltner_x5_Cloud.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Fractal Keltner X5 Cloud indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Fractal Keltner X5 Cloud Indicator?
Find a simple trading example below:
Buy Signal
- The Fractal Keltner X5 cloud should be sloping upward.
- Wait for the price to retrace back to the middle blue line from above.
- Open a buy trade and place your stop loss below short-term support.
- Exit the buy trade when the candle reaches the upper green cloud line.
Sell Signal
- The Fractal Keltner X5 cloud should be sloping downward.
- Wait for the price to retrace back to the middle blue line from below.
- Open a sell trade and place your stop loss above short-term resistance.
- Exit the sell trade when the candle reaches the lower light-pink cloud line.
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Fractal_Keltner_x5_Cloud.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Fractal_Keltner_x5_Cloud.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- To access the indicator list, simply open the dropdown menu and select it
- Click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration